The Mortgage Files
Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.
How changing your preapproved amount may affect your home buying chances
So, you’re looking to purchase a house, you’re preapproved, and you’re on the home search. You and your realtor are going out on nights and weekends looking at homes and deciding if the house is the right fit for you and your family. Here’s some following information you should be aware of as it relates…
Read More2022 conventional, FHA, VA, loan limits now rise
If you’ve been on the sidelines for residential financing, or you’re thinking about doing a loan, and you’ve had some difficulty as it relates to borrowing money for home mortgage financing. The new loan limits for 2022 could help bridge the gap from where you are to where you’re going in support of your financial…
Read MoreYou can refinance with up to 65% debt to income ratio
For many people looking to save money. Refinancing can prove to be a very financially beneficial outlet. If you’ve tried to qualify for a mortgage before or have had some income challenges in your business or due to Covid- 19 for example here are some things to be aware of as it pertains to refinancing…
Read MoreCan you buy a house with no credit?
If you’re trying to buy a home, you’re preapproved, and you’ve been making offers, but you keep losing out because you have multiple offers, here are some things you need to consider. 1st things 1st, this is provided that your loan is fully intact, that you are well qualified, and that the loan essentially is…
Read MoreWhy your student loan might cost you a house
For anyone who has ever borrowed money, one of the things that will follow you till the end is a student loan. Repayment terms on a student loan, specifically state that the loan will get paid in full. You can’t short the debt, you can’t bankrupt the debt, and it will follow you until the…
Read MoreHow to get a mortgage if your income was affected by Covid_19 in 2020
If you experienced any financial difficulty in 2020 and are now back on your feet and looking to purchase or refinance a home this information is for you… Every mortgage company is going to review your situation a little bit differently unfortunately, it’s not one size fits all as a result some lenders have an…
Read MoreWhy you should not hesitate on making offer to buy a home
Let’s say if you are in the market to be buying a home. In the current environment here some things you might want to be aware of with regards to acting on a house that’s affordable and within your budget… You have found the family home that you could afford and it is priced at…
Read MoreHere’s what you need to understand about today’s mortgage rate environment
Interest rates are presently unstable. As a result of this instability brought on by some of the global and national events, we are in a very unique situation where rates literally from one day to another multiple times per day. The market for hunting for terms and price above all else was in 2020. Here’s…
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